The Ethereum Foundation is known for giving grants in the crypto industry towards new developers as well as up-and-coming projects and has recently announced the latest wave of grants for the financing of Ethereum 2.0. This was announced on August 26, 2019, on the company’s blog where they stated that they will be giving financial awards to various client development teams and the teams in question are tasked with creating test networks that will be compatible with multiple clients as the first stage of development is fast approaching. 

Details About the Grants

The announcement has stated that the grant will go toward the 9 different companies on researchers in different sectors. For example, Harmony will receive $189,000 for the Prysm Client Sigma Prime and $485,000 will be given to Lighthouse. Consensys co-founded startup Sigma Prime received $485.000 for their Lighthouse client while $500,000 was given to Status for the Nimbus clients with Status also receiving $150,000 for networking protocol development and Whiteblock receiving $184,000 for network testing and testnet operability support. 

In terms of individuals, Dimitri Khovratovich, a crypto analyst, got $10,000 for the production of a report regarding the security of some aspects of the first version of Ethereum 2.0 and Chainsafe also received $217,500 for the development of its Lodestar light client-side JavaScript. 

Besides this, other awards have been made available for other companies and the Ethereum Foundation has allocated 5 ether bounties for recommendations that will make it into the Phase 0 Ethereum 2.0 spec. Besides these, more bounties have been put in place for research on the Legendary pseudo-random function which will be part of the upcoming proof of custody. Bounties have proven to be a valuable asset indicator within the crypto industry as they serve as an incentive for users to point out bugs within blockchain systems and this has, in turn, made various blockchain ecosystems better and safer for all to use. 

These grants have also gone a long way toward supporting upcoming crypto projects and developments seeing as many mainstream organizations are not actively giving grants towards the sector. It should also be noted that these waves of grants are going to help in the development of the Ethereum ecosystem’s new phase

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